With successive years of production outstripping domestic consumption, the cyclical nature of India’s sugar sector appears to be on the wane. And unless something as drastic as a nationwide drought happens, experts believe sugar production will undergo a structural shift.

       Data shows that in the 10-year period from 2010-11 to 2020-21, India’s annual sugar production exceeded domestic consumption in all the years, except 2016-17. Though Maharashtra suffered a big drought in the 2019-20 sugar season (October to September), other states made up for the shortfall. Also, even ...